Bright prospects’ for insurance companies as Assuria opens new high-rise buildin

Guyana offers a promising outlook for local insurance companies, especially since the country continues to experience rapid development nationwide. Prime Minister, Brigadier Mark Phillips has made it clear that the insurance sector is poised to capitalise on the many opportunities ahead.

He was delivering the keynote address Saturday evening, at the official opening of the Assuria Life and General Insurance Companies’ headquarters, Church Street, Georgetown. The Prime Minister said the development signals the investors’ confidence in the nation’s financial sector, which has remained stable, and secure.

“In recognition of this important role in our country’s financial development, government has taken steps through the Local Content Legislation to support the local industry in capitalising on the expanding economy, especially in the oil and gas sector,” he added.

PM Phillips pointed out that the insurance industry is an integral part of Guyana’s economy, which has accounted for 9.5 per cent of the total assets of Guyana’s financial sector in the last five years.

He noted that insurance companies protect properties, lives, health, and even income.